Navi Mumbai: Cidco has decided to soon tender a plot measuring 6.5 hectares in Nerul’s sector 27 for developing a residential-cum-commercial complex. The town planning body has tagged the project ‘Iconic City’ with the aim of creating “an inception of a gem in Navi Mumbai’s iconic development”.
The project, as per Cidco sources, is estimated to bring in a revenue inflow of over Rs 400 crore with Rs 70,000 as the base price per square meter.
Being close to the upcoming Navi Mumbai International Airport (NMIA) and located opposite Apollo Hospital, the project has been aimed at targeting high-end buyers and is expected to provide plush amenities. The mini township promises high-end living.
Reaching the second international airport will be a 4km drive, expected to take just around eight minutes, thanks to the proximity and new road infrastructure.
The property cost would also be far less than its equivalent in Santacruz (West). Cidco sources said flat buyers in ‘Iconic City’ will have to shell out Rs 20,000 to Rs 22,000 per square foot. According to president of builders’ association of Navi Mumbai, Haresh Cheda, the carpet area rate for a similar project in Santacruz (W) would be Rs 35,000 to Rs 40,000 per square foot.
04/06/18 Sanjay Banerjee/Times of India
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The project, as per Cidco sources, is estimated to bring in a revenue inflow of over Rs 400 crore with Rs 70,000 as the base price per square meter.
Being close to the upcoming Navi Mumbai International Airport (NMIA) and located opposite Apollo Hospital, the project has been aimed at targeting high-end buyers and is expected to provide plush amenities. The mini township promises high-end living.
Reaching the second international airport will be a 4km drive, expected to take just around eight minutes, thanks to the proximity and new road infrastructure.
The property cost would also be far less than its equivalent in Santacruz (West). Cidco sources said flat buyers in ‘Iconic City’ will have to shell out Rs 20,000 to Rs 22,000 per square foot. According to president of builders’ association of Navi Mumbai, Haresh Cheda, the carpet area rate for a similar project in Santacruz (W) would be Rs 35,000 to Rs 40,000 per square foot.
04/06/18 Sanjay Banerjee/Times of India
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